Crypto: Spot Bitcoin Etfs See $458m In Inflows As Mideast Conflict Widens

US spot Bitcoin funds saw strong inflows and increasing volumes on Monday as institutional demand held up in spite of increasing Middle East tensions and broader market uncertainty.

US spot Bitcoin funds opened the week with strong inflows, extending last week’s rebound even as conflict in the Middle East escalated.

Bitcoin (BTC) exchange-traded funds (ETFs) recorded $458.2 million of inflows on Monday, extending last week’s $787.3 million in net inflows, according to data from SoSoValue.

The latest gains pushed cumulative net inflows to $55.3 billion. Trading volume climbed to about $5.8 billion, the highest level since early February.

The inflows came as Bitcoin rose about 3% on Monday, according to CoinGecko data. Analysts cited strong spot buying from US investors, while some industry observers pointed to improving sentiment in spite of the geopolitical risks of the expanding Middle East conflict.

Altcoin ETFs shared positive momentum, though on a smaller scale. Ether (ETH) funds drew about $39 million, while Solana (SOL) and XRP (XRP) products recorded $17 million and $7 million in inflows, respectively.

Among Bitcoin funds, BlackRock’s iShares Bitcoin Trust (IBIT) led with $264 million in inflows, according to Farside data.

Fidelity’s Wise Origin Bitcoin Fund (FBTC) followed with about $95 million, and Bitwise’s Bitcoin ETF (BITB) added $36 million.

Samson Mow, CEO of Jan3 and a long-time Bitcoin advocate, took to X on Monday to note that Bitcoin held steady through the weekend despite rising uncertainty over the strikes on Iran on Saturday.

“There was downward pressure but we just bounced back up each time,” Mow said, adding: “It definitely feels different than from previous months.”

Source: CoinTelegraph